BlackLine acquires BlackLine

AI-Powered automation for accounts receivable

Therese Tucker

CEO & Founder, BlackLine

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Therese Tucker is not your usual buttoned-up CEO and entrepreneur

On a typical day at BlackLine’s Los Angeles headquarters, BlackLine CEO and Founder Therese Tucker is fast on her feet, a blur of color as she sprints from one meeting to the next across four floors of the office tower that bears BlackLine’s name. A certified yoga instructor, she is equally nimble with words, a necessity given the arcane language of Finance & Accounting (F&A) that she has mastered. Her financial acumen and technological ingenuity have combined to make the work of hundreds of thousands of accountants more efficient and humane, lowered the stress levels of internal auditors and given CFOs extraordinary visibility into their organizations’ business performance, informing smarter decisions to enhance competitive standing.

Prior to launching financial controls and automation software company BlackLine in 2001, Therese was the Chief Technology Officer at SunGard Treasury Systems. When she started BlackLine, she had more than 25 years in financial accounting and technology development experience under her belt and was focused initially on providing a wealth management solution to First National Bank of Nebraska. When an accountant expressed frustration over the bank’s manual processes to reconcile the books, Therese took notice.

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CEO & Founder, BlackLine

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For years, management consultancies have touted the benefits of continuous improvement, the ongoing efforts in a business to improve products, services or processes by increments. In doing so, companies can identify and eliminate waste, enhance operational excellence and focus on issues like growing the business, accountant stress, the risk of administrative and reporting errors, and the possibility of a material weakness.

At last, continuous improvement has come to the world of accounting and finance, as Russ Banham points out in our cover story, “Counting on Continuous Accounting.” We’re a leader in this movement to forge a new mindset in finance, breaking down the accounting tasks that usually pile up at the period-end close into a series of smaller steps, all of them automated, of course....

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A business must boldly blaze a trail that others follow, striving to do what’s best for its customers, probing what the future will demand of them, and making innovative decisions that help move them forward. These are the attributes of a business leader....

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ver wonder where the term, the “last mile” of finance, originated? This oft-used phrase to describe the month’s worth of work painfully squeezed into a few days to close the books refers to the final steps taken by a prisoner condemned to die. Company accountants can relate to this fate.

Compressing the closing activities for financial reporting into scant days results in overwrought accountants more likely to make mistakes, high labor costs to staff up for the peak overload, delayed forecasts by FP&A (financial planning and analysis), and tardier testing of Sarbanes-Oxley controls by internal audit....

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Last year in Chicago BlackLine introduced a new vision for the accounting and finance profession. It’s called Modern Finance, and it’s changing business – your business – in ways that might not have seemed possible a few years ago....

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